After a very bumpy start this year, crypto price watchers finally saw the beginning of a promising recovery last week. As a result, prices continue to rise this week. Today's growth alone is particularly noteworthy, with the global cryptocurrency market capitalization increasing 10% to $ 1.9 trillion in just 24 hours.
This week, two market leaders made remarkable profits. Bitcoin surpassed $ 40,000 again on Friday and maintained this growth until Saturday. The world's most popular cryptocurrencies have risen 8.8% in the past week and are currently trading at $ 41,460.
However, Bitcoin's growth has risen 16% this week and is overshadowed by Ethereum, trading at $ 3,015.
All of the top 30 cryptocurrencies (except Stablecoin) have risen this week, except for Fantom, which has lost 0.6% and is trading at $ 2.16.
The most significant profits of the week are Solana, up 17% to $ 115. Polkadot, up 15% to $ 21.60. Avalanche is up 10% to $ 78.36. Litecoin is up 10% at $ 121.95. Near the log, it increased 18% to $ 13.29. And Decentraland rose 26% to $ 2.99. This week's
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On Monday, Tobias Adrian, financial adviser to the International Monetary Fund, warned that his term for cryptocurrencies, "encryption," is creeping into the mainstream of finance. "We need to improve our cash flow management measures," a senior official said.
Adrian highlighted some of the risks we face. First, Bitcoin is currently strongly correlated with traditional financial markets. Between cryptocurrencies and the stock market has increased significantly. Cryptocurrencies are now very closely related to what is happening in inequities.
On the same day, JP Morgan told investors He sent a note and warned that Bitcoin is still too volatile for mass institutional acceptance while being ranked number two on the market value chart thanks to the NFT and Defi features of smart contract-enabled blockchains. In addition, Ethereum faces pressure from rivals such as Solana and Terra.